China’s Ping An Insurance completed the acquisition of a stake in iTutorGroup.

China’s largest insurer Ping An Insurance completed the acquisition of a stake in edtech firm iTutorGroup through its overseas subsidiaries. Financial terms were not disclosed. Following the investment, iTutorGroup will become part of Ping An’s smart education business. According to iTutorGroup, the edtech startup will continue to operate independently while collaborating with Ping An’s smart education system to “achieve maximum synergy and utilisation of resources and technology”.